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Sagot :
convert the interest rate to a decimal form by divindig into 100
[tex](1\frac{3}{8})percent=\frac{11}{800}=0.01375[/tex]since it is paying anually we can use the simple interest formula
[tex]I=P\cdot r\cdot t[/tex]replace in the formula
[tex]\begin{gathered} I=650\cdot0.01375\cdot5 \\ I=44.6875 \end{gathered}[/tex]The interest that she will earn will be approximately $44.69
To find how much money will Olivia have in 5 years, add the principal with the interest.
[tex]\begin{gathered} A=P+I \\ A=650+44.69 \\ A=694.69 \end{gathered}[/tex]She will have in her bank account after 5 years $694.69
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